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Stock Up 4% as FTSE Boss Steps Down

David Holding
May 8, 2012

LONDON -- The Aviva (NYSE: AV  ) boss is the latest in the line of U.K. bosses to jump or get pushed over excessive pay.

Whether your view is "about time!" or you see it as a worrying trend of the departure of top talent from U.K. PLCs may depend where you're coming from. As a private investor, there's more of me in the former camp than the latter. But life isn't that simple.

Of course, Andrew Moss, whose departure was announced on Tuesday wasn't worth about 600 pounds for every hour he worked for Aviva and its owners. And in reality, his remuneration is far higher due to stock awards. But as shareholders, we also want excellent performance to be well-rewarded so that we have the right people in the right jobs.

So the big strategic decisions and the ability to see them through are what really count. And the market's perception seems to be that Moss wasn't the right man for the job. The shares are up by 4% at the time of writing, making Aviva the FTSE 100's (INDEX: ^FTSE